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US to ban transactions with ByteDance and WeChat in 45 days

asia.nikkei.com

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Re: US to ban transactions with ByteDance and WeChat in 45 days

#41

Theres an incredible amount of foreign propaganda in western social media anyway. Twitter took down like a million CCP accounts the other month (they made an announcement about it) and thats just the ones they know about. This is a step thats at least in spirit probably makes sense but there are more larger issues. Reddit literally has an API to comment...you think all those policial default subs are real comments? N…

yup they are all over popular websites with fake accounts, YT, FB etc

Re: US to ban transactions with ByteDance and WeChat in 45 days

#42

Theres an incredible amount of foreign propaganda in western social media anyway. Twitter took down like a million CCP accounts the other month (they made an announcement about it) and thats just the ones they know about. This is a step thats at least in spirit probably makes sense but there are more larger issues. Reddit literally has an API to comment...you think all those policial default subs are real comments? N…

Almost every CCP-owned channel on Facebook has bought fake subscribers, it's so visible they don't even try to hide it. As an example, CGTN French has 20M subscribers, more than any local French newspapers despite being virtually unknown in the country. If you go by subscribers count, it would be the most popular news platform of the country...

Re: US to ban transactions with ByteDance and WeChat in 45 days

#43
Some people here are wondering about the implications of this. What this means IMO is that all Chinese investments in SV need to be liquidated at fire sale prices in the next 45 days. Regardless of how people here feel about China this is a huge escalation. The US is inflicting huge losses on Chinese companies for no clear violation of US laws on their part. The pandoras box is now open.

Do countries get to do this to each other whenever they feel like it now ? Can China force Tesla to sell its Chinese operations because Teslas data gathering poses a national security risk ? China has some pretty serious means available to it for escalation. China can ban Boeing from China forcing the US taxpayer to incur serious losses in keeping the company afloat.

The whole thing is pretty stupid overall. Most people don't realize that during the 2008 crisis it was Chinas 500 billion dollar stimulus that kick started demand and pulled the world out of a depression. China and the US are interdependent and hold up the global system upon which global growth depends. If China slows down as a result of all this that reduces global growth. Pushing China to the wall can make them take extreme steps like undercut the entire dollar based financial order leading to mass instability. The US might come out victorious anyway but its not worth the risks. Not to mention a war which if it breaks out could lead to WW3.

Previous attempts to contain China were much more tactful with things like the TPP and the Iran deal. Right now the world is hurtling towards the abyss and most people here don't even realise it.

A meta point I'd like to add is that currently 10 % of the earths population in the "Westosphere" controls 60 % of the worlds wealth. This is untenable in the long term and all this flailing about will not stop a reversion to a more balanced world. Its better that this happen gracefully than in a violent fashion.

Re: US to ban transactions with ByteDance and WeChat in 45 days

#44
Here's a diff between the two orders, if anyone else is curious about the specific changes. I used the TikTok/ByteDance order as the "original", so removals and additions are relative to changing that one into the WeChat/Tencent one: https://gist.github.com/Deimos/8fcb95ec4017cf1a28e32f6057a91...

Re: US to ban transactions with ByteDance and WeChat in 45 days

#45
post #20
post #15

An important note that nobody seems to be reporting on: this is only possible because Apple and Google have control over which apps are permitted on your device. The US government has no legal authority to ban publishing (including apps) in the US. They do, however, have the ability to regulate trade between the operators of the App Store (Apple) and the Play Store (Google), and app publishers, which is what they're…

And how would we prevent the Chinese from simply subverting our democracy?

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Re: US to ban transactions with ByteDance and WeChat in 45 days

#48
post #15

An important note that nobody seems to be reporting on: this is only possible because Apple and Google have control over which apps are permitted on your device. The US government has no legal authority to ban publishing (including apps) in the US. They do, however, have the ability to regulate trade between the operators of the App Store (Apple) and the Play Store (Google), and app publishers, which is what they're…

What if the app publishers stop taking payments and ads from the US, in that case there may not be no longer cash transactions, so will the restrictions apply?.

Re: US to ban transactions with ByteDance and WeChat in 45 days

#49
post #32
post #3

So does this ban transactions with all of Tencent or just those in relation to WeChat? https://www.whitehouse.gov/presidential-actions/executive-or... Section 1. (a) The following actions shall be prohibited beginning 45 days after the date of this order, to the extent permitted under applicable law: any transaction that is related to WeChat by any person, or with respect to any property, subject to the jurisdiction…

Did you edit in the quote from the EO after? It specifically says "any transaction that is related to WeChat". The TikTok/ByteDance order doesn't include a "related to" qualifier like that, the same section in it just says: any transaction by any person, or with respect to any property, [...] with ByteDance Ltd. It's still not clear what exactly that will mean, but the intention definitely seems to be to restrict it…

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